U.S. steel imports fell sharply in November 2024, with rolled steel volumes dropping by 13.5% month-on-month to 1.59 million tons, according to the American Iron and Steel Institute. Total steel imports, including semi-finished products, declined by 13.7% to 2.07 million tons. Galvanized steel led import volumes at 209,140 tons, reflecting a similar month-on-month drop. Finished products made up 77.1% of total imports for the month.

Despite the monthly dip, total U.S. steel imports for January–November 2024 reached 26.73 million tons, a 2.5% increase year-on-year. Rolled steel deliveries rose 3% in the same period to 20.68 million tons, with galvanized products soaring 39.4% to 2.81 million tons. Key import sources included Canada (6.04 million tons), Brazil (4.38 million tons), and Mexico (3.19 million tons).

In contrast, 2023 saw total imports fall 8.7% to 28.15 million tons, with rolled steel imports dropping 14.1% amid high tariffs, rising domestic production, weakening demand, and geopolitical challenges. Steel output in the U.S. rose slightly by 0.2% to 80.7 million tons, keeping it among the top ten global producers. Global production in 2023 totaled 1.85 billion tons, down 0.1% year-on-year.